Italian lessor UBI Leasing has won a €5 million contract for the financing of a photovoltaic plant in Vasapulli, Puglia, in Southern Italy.
The Brescia-headquartered leasing company, part of the UBI Banca Group, has been selected by 9REN, a European developer and contractor of solar plants.
Corporance SpA, an Italian merchant bank specialised in renewable energy projects, has advised 9REN on the deal.
The new power plant should produce an estimated 1 million kWh yearly, equivalent to the energy needs of 400 households. Construction on the site has already begun.